Lanthanein Resources Ltd completed some key drilling activities at its Lady Grey Project in Western Australia during the March 2025 quarter, with assays expected in the coming weeks and further exploration already underway.
Drill core on way to lab
During the quarter, the company wrapped up diamond drilling on a modelled Moving Loop Electromagnetic (MLEM) conductor plate identified under EM Survey Line #6.
Two deep drillholes, LGDH #4 and LGDH #5, were completed to depths of 325 metres and 351 metres respectively, targeting a conductor plate modelled some 200 metres below surface.
The drill core has been transported to Perth for detailed logging and sampling, with assays expected within six to eight weeks.
In addition, Lanthanein completed the drill testing of a second MLEM conductor plate under Line #1 shortly after the quarter ended.
The company is working on this target as a matter of high priority due to its alignment with a significant surface gold geochemical anomaly of 256 parts per billion (ppb) gold, within a favourable regional structural zone.
The Lady Grey Gold Prospect lies adjacent to Covalent Lithium’s Mount Holland mine, home to the historical Bounty Gold Mine which produced around 1.3 million ounces of gold.
Preparations have also been made for refurbishment of access tracks, drill lines and drill pads to support continued drilling at Line #1.
The conductor plate at this site lies at a shallower depth of around 114 metres and also dips eastward, with diamond drilling designed to intersect its core.
Financials for the quarter
Exploration expenditure for the quarter totalled A$825,000, while corporate costs amounted to A$144,000.
Payments to directors and related parties during the period amounted to A$135,000, comprising non-executive director remuneration and technical consulting fees.
As at March 31, Lanthanein held A$3.54 million in cash, providing an estimated funding runway of 3.6 quarters based on current expenditure rates.
Lanthanein’s activities remain focused on progressing drilling and exploration work at its West Australian assets, with near-term catalysts expected from assay results at Lady Grey and continued advancement of exploration targets across the Mt Holland region.